1. (1) "(a) rate" means a rating rule or a rate expressed as the symbol "(a)" or the words "refer to company" listed opposite a classification code on the rule and rate pages of the Commercial Lines Manual.
2. (2) "(a) rating" means a special risk rating underwriting procedure used for classifying and rating any risk that presents a unique or unusual condition, exposure, or hazard for which the underwriter feels a Commercial Lines Manual classification or rate is not appropriate.

3. (3) "Commercial Lines Manual" means the manual of rates, classifications, and underwriting rules for commercial lines insurance, including:

   1. (a) the Highly Protected Risk Plan, filed with the commissioner by the Insurance Services Office, Inc.; and
   2. (b) any similar rating plan, manual or large risk property rating plan filed with the commissioner by another rate service organization or individual insurer.

4. (4) "Excess insurance" means a coverage designed to be:

   1. (a)(i) in excess over one or more primary coverages; or

      1. (ii) a self-insured retention; and
   2. (b) that does not pay a loss until the loss amount exceeds a certain sum.
5. (5) "Guide (a) rate" means an advisory (a) rate that has been developed by a rate service organization or company home office underwriter that represents a rough average and is used as a guide or signpost.
6. (6) "Guide (a) Manual" means a collection of guide (a) rates with rules and procedures for use with (a) rates.
7. (7) "Increased limits factor" means a rating factor used to adjust a manual rate to a limit higher than the basic manual limit.
8. (8) "Self-insured retention" means the portion of a risk or potential loss assumed by an insured in an amount of at least $50,000 and in the form of a deductible, self-insurance, or no insurance.
9. (10) "Umbrella liability insurance" means insurance providing coverage in excess of the limits of a primary policy and additional basic liability coverages.

Terms in this rule are defined in Sections 31A-1-301 and 31A-19a-102. Additional terms are defined as follows:

KEY: insurance companies

Date of Last Change: October 25, 2021

Notice of Continuation: August 9, 2024

Authorizing, and Implemented or Interpreted Law: 31A-2-201; 31A-19a-103